The European Central Bank urged EU countries to pay off debt

  • The European Central Bank urged EU countries to pay off debt

Kyiv: The President of the European Central Bank (ECB) called on the eurozone member countries to pay off all their debts, which could later strengthen the currency bloc during possible economic fluctuations, such as the UK leaving the EU. This was reported by Mario Draghi during a meeting with parliamentarians of Ireland.

“Since economic growth remains stable, now is the time to restore budgetary reserves,” said the Director of the ECB.

According to Draghi, in addition to Brexit, a certain upheaval of the organization can also be caused by growing trade protectionism, the weakening of emerging markets and the volatility of financial markets. The cancellation of any debts will strengthen the position of countries in the conditions that are now observed in the international market.

Draghi also announced that, despite all the possible risks that exist now, the European Central Bank still plans to complete the quantitative easing program in December, as planned.

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Macroeconomic dialogue at the political level in the EU Council